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" ... President-elect Donald Trump will last no more than four years in the White House, a period when corporations and Wall Street will retain the upper hand over the struggling workers who helped elect him in a populist wave. ...

In his monthly investment outlook, "Populism Takes a Wrong Turn," Gross also said "there is no new Trump bull market in the offing," and that global diversified investors should be "satisfied" with 3 percent to 5 percent annual returns. ...

"[Trump's] tenure will be a short four years but is likely to be a damaging one for jobless and low-wage American voters," Gross added. "I write in amazed, almost amused bewilderment at what American voters have done to themselves." ...

"Investors must drive with caution, understanding that higher deficits resulting from lower taxes raise interest rates and inflation, which in turn have the potential to produce lower earnings and P/E (price-earnings) ratios," Gross added. ... "